UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-13057 RALPH LAUREN CORPORATION (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Ide ...

View all Key Company Metrics for Ralph Lauren here>>> Shares of Ralph Lauren have returned -2.4% over the past month versus the Zacks S&P 500 composite's +6.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term. For the quarter ended March 2024, Ralph Lauren (RL) reported revenue of $1.57 billion, up 1.8% over the same period last year. EPS came in at $1.71, compared to $0.90 in the year-ago quarter. The reported revenue ...

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, The ...

Ralph Lauren (RL) came out with quarterly earnings of $1.71 per share, beating the Zacks Consensus Estimate of $1.65 per share. This compares to earnings of $0.90 per share a year ago. These figures are adjusted for non- recurring items. Ralph Lauren shares have added about 13.9% since the beginning of the year versus the S&P 500's gain of 11.3%. What's Next for Ralph Lauren? While Ralph Lauren has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the ...

[Executive Summary](index=1&type=section&id=Executive%20Summary) Ralph Lauren Corporation exceeded expectations in FY2024 Q4 and full year, driven by revenue growth, improved margins, and strong comparable store sales [Fiscal 2024 Performance Highlights](index=1&type=section&id=Fiscal%202024%20Performance%20Highlights) Ralph Lauren Corporation achieved strong financial results in FY2024 Q4 and full year, marked by increased revenue, expanded margins, and significant shareholder returns Key Financial Data for Q4 FY2024 (YoY) | Metric | Q4 FY2024 | Q4 FY2023 | Change (Reported) | | :--- | :--- | :--- | :--- | | Diluted EPS (Reported) | $1.38 | $0.48 | +187.5% | | Diluted EPS (Adjusted) | $1.71 | $0.90 | +90.0% | | Revenue | +2% (Reported), +3% (Constant Currency) | - | - | | Global Direct-to-Consumer Comparable Store Sales | +6% | - | - | | Average Unit Retail (AUR) | Double-digit growth | - | - | | Gross Margin | Expansion | - | - | | Operating Margin | Expansion | - | - | Key Financial Data for Full Year FY2024 (YoY) | Metric | Full Year FY2024 | Full Year FY2023 | Change (Reported) | | :--- | :--- | :--- | :--- | | Revenue | +3% (Reported), +3% (Constant Currency) | - | - | | Global Direct-to-Consumer Comparable Store Sales | +6% | - | - | | Reported EPS | +28% | - | - | | Adjusted EPS | +24% | - | - | | Operating Margin | Reached Upper End of Guidance | - | - | - The company returned approximately **$600 million** to shareholders in FY2024 through dividends and share repurchases[3](index=3&type=chunk) [Fiscal 2025 Outlook & Strategic Focus](index=1&type=section&id=Fiscal%202025%20Outlook%20%26%20Strategic%20Focus) The company anticipates low single-digit net revenue growth in FY2025, focusing on brand investment, core product portfolios, and global consumer ecosystems for sustainable growth FY2025 Outlook | Metric | Expectation | | :--- | :--- | | Net Revenue Growth | Low single-digit (Reported and Constant Currency) | | Gross Margin | Expansion (Consistent with Long-Term Targets) | | Operating Margin | Expansion (Consistent with Long-Term Targets) | - The company will continue to invest in its brand, iconic core product portfolio, and consumer ecosystems in key global cities[3](index=3&type=chunk) [Key Corporate Announcements](index=1&type=section&id=Key%20Corporate%20Announcements) The company announced Justin Picicci's appointment as CFO and approved a 10% increase in its quarterly cash dividend - Justin Picicci was appointed Chief Financial Officer, effective May 23, 2024, with Jane Nielsen continuing as Chief Operating Officer through FY2025[3](index=3&type=chunk) - The Board of Directors approved a **10% increase** in the quarterly cash dividend to **$0.825 per share**[3](index=3&type=chunk) [Strategic Priorities & Key Achievements](index=2&type=section&id=Strategic%20Priorities%20%26%20Key%20Achievements) The company achieved significant brand engagement and product performance in FY2024, expanding its global ecosystem and attracting new customers [Brand & Customer Engagement](index=2&type=section&id=Brand%20%26%20Customer%20Engagement) The company successfully attracted 5 million new customers and achieved double-digit social media follower growth in FY2024 through continuous brand elevation and key marketing initiatives - Acquired **5 million new customers** in direct-to-consumer channels, achieved **low double-digit social media follower growth**, and saw increased global brand awareness, purchase intent, and Net Promoter Score[6](index=6&type=chunk) - Key brand activations, including sponsoring the Australian Open, launching the second 'Artist in Residence' collection with Navajo artist Naiomi Glasses, Lunar New Year campaigns, and celebrity dressing, drove consumer recruitment and engagement[6](index=6&type=chunk) [Product & Category Performance](index=2&type=section&id=Product%20%26%20Category%20Performance) Core businesses and high-potential categories, including women's, outerwear, and home, achieved robust growth, with Average Unit Retail (AUR) consistently increasing Product and Category Growth (Constant Currency) | Category | Q4 FY2024 Growth | Full Year FY2024 Growth | | :--- | :--- | :--- | | Core Businesses | Low single-digit | High single-digit | | High-Potential Categories (Women's, Outerwear, Home) | Mid single-digit | High single-digit | | Average Unit Retail (AUR) | +13% | +11% | - Product highlights this quarter included the launch of Polo 67 fragrance (fronted by New York Yankees captain Aaron Judge), the second 'Artist in Residence' collection 'Color in Motion', and the Lunar New Year 'Year of the Dragon' collection[6](index=6&type=chunk) [Geographic Performance & Ecosystem Expansion](index=2&type=section&id=Geographic%20Performance%20%26%20Ecosystem%20Expansion) Asia demonstrated strong performance in Q4 and full year, particularly China, as the company expanded its global ecosystem with new stores and digital platforms in key cities Regional Sales Performance (YoY) | Region | Q4 FY2024 (Reported) | Q4 FY2024 (Constant Currency) | Full Year FY2024 (Reported) | Full Year FY2024 (Constant Currency) | | :--- | :--- | :--- | :--- | :--- | | Asia | +1% | +7% | +10% | +14% | | China | High single-digit | Low double-digit | >25% | >25% | | North America | +2% | - | -2% | - | | Europe | +2% | Slight increase | +7% | +3% | - Direct-to-consumer sales growth in North America and Europe offset anticipated declines in the wholesale business[6](index=6&type=chunk) - The company continued to expand its key city ecosystems over the past fiscal year, opening new flagship stores in Amsterdam and Singapore, launching its first Ralph Lauren store and digital commerce site in Canada, and opening its first Ralph's Coffee locations in Paris, Shenzhen, and Dubai[6](index=6&type=chunk) [Financial Performance Review](index=3&type=section&id=Financial%20Performance%20Review) This section provides a detailed review of the company's financial performance for the fourth quarter and full fiscal year 2024, along with balance sheet and cash flow highlights [Fourth Quarter Fiscal 2024 Financial Review](index=3&type=section&id=Fourth%20Quarter%20Fiscal%202024%20Financial%20Review) In Q4 FY2024, the company's revenue grew 2% to $1.6 billion, with significant expansion in gross and adjusted operating margins, and adjusted diluted EPS reaching $1.71 [Net Revenue](index=3&type=section&id=Net%20Revenue_Q4) Q4 FY2024 Net Revenue | Metric | Amount (million USD) | YoY Growth (Reported) | YoY Growth (Constant Currency) | | :--- | :--- | :--- | :--- | | Total Net Revenue | $1,600 | +2% | +3% | | North America Revenue | $668 | +2% | - | | Europe Revenue | $469 | +2% | Slight increase | | Asia Revenue | $394 | +1% | +7% | - Foreign currency had an approximate **110 basis point negative impact** on revenue growth, while the earlier Easter holiday contributed **50 basis points** to revenue growth[8](index=8&type=chunk) [Gross Profit](index=3&type=section&id=Gross%20Profit_Q4) Q4 FY2024 Gross Profit | Metric | Amount (million USD) | Gross Margin | Adjusted Gross Margin (YoY Change) | | :--- | :--- | :--- | :--- | | Gross Profit | $1,000 | 66.6% | +480 basis points | - Gross margin expansion was primarily driven by lower freight costs, channel and geographic mix shifts, and Average Unit Retail (AUR) growth across all regions[9](index=9&type=chunk) [Operating Expenses](index=3&type=section&id=Operating%20Expenses_Q4) Q4 FY2024 Operating Expenses | Metric | Amount (million USD) | Adjusted Operating Expenses (YoY Change) | Adjusted Operating Expense Rate (YoY Change) | | :--- | :--- | :--- | :--- | | Reported Operating Expenses | $936 | +3% | +80 basis points (to 57.8%) | - Increased operating expenses were primarily driven by channel and geographic mix shifts from strong international and direct-to-consumer growth[10](index=10&type=chunk) [Operating Income](index=3&type=section&id=Operating%20Income_Q4) Q4 FY2024 Operating Income | Metric | Amount (million USD) | Operating Margin | Adjusted Operating Income (YoY Change) | Adjusted Operating Margin (YoY Change) | | :--- | :--- | :--- | :--- | | Reported Operating Income | $108 | 6.9% | $137 | +380 basis points (to 8.7%) | Q4 FY2024 Regional Adjusted Operating Margin | Region | Adjusted Operating Margin (YoY Change) | | :--- | :--- | | North America | 17.0% (+480 basis points) | | Europe | 23.9% (+450 basis points) | | Asia | 16.8% (+260 basis points) | [Net Income and EPS](index=4&type=section&id=Net%20Income%20and%20EPS_Q4) Q4 FY2024 Net Income and EPS | Metric | Q4 FY2024 (Reported) | Q4 FY2024 (Adjusted) | Q4 FY2023 (Reported) | Q4 FY2023 (Adjusted) | | :--- | :--- | :--- | :--- | :--- | | Net Income (million USD) | $91 | $112 | $32 | $61 | | Diluted EPS | $1.38 | $1.71 | $0.48 | $0.90 | [Effective Tax Rate](index=4&type=section&id=Effective%20Tax%20Rate_Q4) Q4 FY2024 Effective Tax Rate | Metric | Q4 FY2024 (Reported) | Q4 FY2024 (Adjusted) | Q4 FY2023 (Reported) | Q4 FY2023 (Adjusted) | | :--- | :--- | :--- | :--- | :--- | | Effective Tax Rate | 19% | 20% | 34% | 27% | - The decrease in tax rate was primarily due to favorable true-ups, additional foreign tax benefits, and a reduction in certain prior-period discrete tax accruals[13](index=13&type=chunk) [Full Year Fiscal 2024 Financial Review](index=4&type=section&id=Full%20Year%20Fiscal%202024%20Financial%20Review) For the full FY2024, the company's revenue grew 3% to $6.6 billion, with improved adjusted gross and operating margins, and adjusted diluted EPS reaching $10.31 [Net Revenue](index=4&type=section&id=Net%20Revenues_FY24) Full Year FY2024 Net Revenue | Metric | Amount (million USD) | YoY Growth (Reported) | YoY Growth (Constant Currency) | | :--- | :--- | :--- | :--- | | Total Net Revenue | $6,600 | +3% | +3% | | North America Revenue | $3,000 | -2% | - | | Europe Revenue | $2,000 | +7% | +3% | | Asia Revenue | $1,600 | +10% | +14% | - Foreign currency had an approximate **20 basis point positive impact** on revenue growth[14](index=14&type=chunk) [Gross Profit](index=4&type=section&id=Gross%20Profit_FY24) Full Year FY2024 Gross Profit | Metric | Amount (million USD) | Gross Margin | Adjusted Gross Margin (YoY Change) | | :--- | :--- | :--- | :--- | | Gross Profit | $4,400 | 66.8% | +190 basis points | - Foreign currency had an approximate **20 basis point negative impact** on gross margin[15](index=15&type=chunk) [Operating Expenses](index=5&type=section&id=Operating%20Expenses_FY24) Full Year FY2024 Operating Expenses | Metric | Amount (million USD) | Adjusted Operating Expenses (YoY Change) | Adjusted Operating Expense Rate (YoY Change) | | :--- | :--- | :--- | :--- | | Reported Operating Expenses | $3,700 | +6% | +140 basis points (to 54.3%) | - Reported operating expenses included **$75 million** in restructuring-related and other net charges[17](index=17&type=chunk) [Operating Income](index=5&type=section&id=Operating%20Income_FY24) Full Year FY2024 Operating Income | Metric | Amount (million USD) | Operating Margin | Adjusted Operating Income (YoY Change) | Adjusted Operating Margin (YoY Change) | | :--- | :--- | :--- | :--- | | Reported Operating Income | $756 | 11.4% | $826 | +50 basis points (to 12.5%) | Full Year FY2024 Regional Adjusted Operating Margin | Region | Adjusted Operating Margin (YoY Change) | | :--- | :--- | | North America | 18.6% (-10 basis points) | | Europe | 23.6% (+150 basis points) | | Asia | 21.4% (+110 basis points) | [Net Income and EPS](index=5&type=section&id=Net%20Income%20and%20EPS_FY24) Full Year FY2024 Net Income and EPS | Metric | Full Year FY2024 (Reported) | Full Year FY2024 (Adjusted) | Full Year FY2023 (Reported) | Full Year FY2023 (Adjusted) | | :--- | :--- | :--- | :--- | :--- | | Net Income (million USD) | $646 | $686 | $523 | $576 | | Diluted EPS | $9.71 | $10.31 | $7.58 | $8.34 | [Effective Tax Rate](index=5&type=section&id=Effective%20Tax%20Rate_FY24) Full Year FY2024 Effective Tax Rate | Metric | Full Year FY2024 (Reported) | Full Year FY2024 (Adjusted) | Full Year FY2023 (Reported) | Full Year FY2023 (Adjusted) | | :--- | :--- | :--- | :--- | :--- | | Effective Tax Rate | 17% | 19% | 24% | 24% | [Balance Sheet and Cash Flow Review](index=5&type=section&id=Balance%20Sheet%20and%20Cash%20Flow%20Review) As of FY2024 end, cash and short-term investments increased to $1.8 billion, total debt remained stable, and inventory decreased by 16%, with reduced capital expenditures Key Balance Sheet Data as of FY2024 End | Metric | FY2024 End (million USD) | FY2023 End (million USD) | Change | | :--- | :--- | :--- | :--- | | Cash and Short-term Investments | $1,800 | $1,600 | +$200M | | Total Debt | $1,100 | $1,100 | Stable | | Inventory | $902 | $1,071 | -16% | | Capital Expenditures (FY24) | $165 | $217 | -$52M | - The company repurchased approximately **$121 million** of Class A common stock in Q4 FY2024 and **$398 million** for the full year, with approximately **$776 million** remaining under its share repurchase authorization at fiscal year-end[21](index=21&type=chunk) - The decrease in capital expenditures was primarily due to fewer new store openings in FY2024 and the deferral of certain new store openings and renovation projects to FY2025[22](index=22&type=chunk) [Corporate Updates](index=6&type=section&id=Corporate%20Updates) This section covers recent corporate developments, including leadership appointments and dividend policy changes [Leadership Appointment](index=6&type=section&id=Leadership%20Appointment) The company appointed Justin Picicci as Chief Financial Officer, part of a multi-year succession plan, with Jane Nielsen continuing as Chief Operating Officer - Justin Picicci was appointed Chief Financial Officer, effective May 23, 2024, bringing 18 years of extensive business and corporate finance experience at Ralph Lauren[23](index=23&type=chunk) - Jane Nielsen will continue as Chief Operating Officer through March 2025, overseeing key operational and strategic functions[23](index=23&type=chunk) [Dividend Increase](index=6&type=section&id=Dividend%20Increase) The Board of Directors announced a 10% increase in the quarterly cash dividend for common stock, setting the new dividend at $0.825 per share Dividend Information | Metric | Amount | | :--- | :--- | | New Quarterly Cash Dividend | $0.825/share | | Total Annual Dividend | $3.30/share | | Next Payment Date | July 12, 2024 | | Record Date | June 28, 2024 | [Fiscal 2025 Outlook](index=6&type=section&id=Fiscal%202025%20Outlook) This section outlines the company's financial projections and strategic priorities for the upcoming fiscal year and first quarter [Full Year Fiscal 2025 Outlook](index=6&type=section&id=Full%20Year%20Fiscal%202025%20Outlook) The company projects low single-digit revenue growth for FY2025, with operating margin expansion of approximately 100 to 120 basis points, driven by gross margin expansion and operating expense leverage Full Year FY2025 Outlook | Metric | Expectation | | :--- | :--- | | Revenue Growth (Constant Currency) | Low single-digit (approx. 2% to 3%) | | FX Impact on Revenue | Negative approx. 90 basis points | | Operating Margin Expansion (Constant Currency) | Approx. 100 to 120 basis points | | Gross Margin Growth (Constant Currency) | Approx. 50 to 100 basis points | | FX Impact on Gross and Operating Margin | Negative approx. 30 basis points | | Tax Rate | 23% to 24% | | Capital Expenditures | Approx. $300M to $325M | - Gross margin growth will be driven by Average Unit Retail (AUR) growth, lower cotton costs, and favorable geographic and channel mix shifts, offsetting increased material and labor costs and freight costs from Red Sea shipping disruptions[28](index=28&type=chunk) [First Quarter Fiscal 2025 Outlook](index=6&type=section&id=First%20Quarter%20Fiscal%202025%20Outlook) The company expects slight revenue growth (constant currency) in Q1 FY2025, with operating margin expansion of approximately 60 to 80 basis points, primarily driven by strong gross margin growth Q1 FY2025 Outlook | Metric | Expectation | | :--- | :--- | | Revenue Growth (Constant Currency) | Slight increase | | Revenue Growth (Reported) | Slight decrease (including approx. 160 basis points negative FX impact) | | Operating Margin Expansion (Constant Currency) | Approx. 60 to 80 basis points | | Gross Margin Expansion | Approx. 140 to 180 basis points | | FX Impact on Gross and Operating Margin | Negative approx. 40 basis points | | Tax Rate | Approx. 24% to 25% | - The revenue outlook includes an approximate **50 basis point negative impact** from the earlier Easter holiday, which benefited Q4 FY2024[29](index=29&type=chunk) - Gross margin expansion will be driven by lower cotton costs and continued Average Unit Retail (AUR) growth, partially offset by increased other product costs[30](index=30&type=chunk)[31](index=31&type=chunk) [Additional Information](index=7&type=section&id=Additional%20Information) This section provides details on the company's conference call, an overview of Ralph Lauren Corporation, and important disclosures regarding forward-looking statements [Conference Call Details](index=7&type=section&id=Conference%20Call%20Details) The company held a conference call and webcast on May 23, 2024, to discuss Q4 and full-year results, with replay information provided - The conference call was held on May 23, 2024, at 9:00 AM ET, accessible via the company's investor relations website or by dialing a phone number[32](index=32&type=chunk) - An online archive and telephone replay of the conference call will be available until May 30, 2024[33](index=33&type=chunk) [About Ralph Lauren](index=7&type=section&id=About%20Ralph%20Lauren) Ralph Lauren Corporation is a leading global designer, marketer, and distributor of luxury lifestyle products, with over 50 years of history across five product categories - The company is dedicated to inspiring dreams of a better life through authenticity and timeless style[34](index=34&type=chunk) - The company's brands include Ralph Lauren, Ralph Lauren Collection, Ralph Lauren Purple Label, Polo Ralph Lauren, Double RL, Lauren Ralph Lauren, Polo Ralph Lauren Children, and Chaps[34](index=34&type=chunk) [Special Note Regarding Forward-Looking Statements](index=7&type=section&id=Special%20Note%20Regarding%20Forward-Looking%20Statements) This press release contains forward-looking statements about future operations, financial conditions, and strategic plans, subject to risks and uncertainties that may cause actual results to differ materially - Forward-looking statements are identified by words such as 'aim', 'anticipate', 'outlook', 'estimate', 'expect', and similar expressions[35](index=35&type=chunk) - Factors that could cause actual results to differ include loss of key personnel, inflationary pressures, geopolitical and macroeconomic environments, supply chain disruptions, inventory management, currency fluctuations, changes in consumer demand, brand image maintenance, cybersecurity risks, and changes in laws and regulations[36](index=36&type=chunk)[37](index=37&type=chunk) - The company undertakes no obligation to publicly update or revise any forward-looking statements[37](index=37&type=chunk) [Consolidated Financial Statements](index=10&type=section&id=Consolidated%20Financial%20Statements) This section presents the company's consolidated balance sheets, statements of operations, and cash flows for the reported fiscal periods [Consolidated Balance Sheets](index=10&type=section&id=Consolidated%20Balance%20Sheets) As of March 30, 2024, the company reported total assets of $6.6026 billion, total liabilities of $4.1523 billion, and shareholders' equity of $2.4503 billion Consolidated Balance Sheets (as of March 30, 2024) | Item | March 30, 2024 (million USD) | April 1, 2023 (million USD) | | :--- | :--- | :--- | | **Assets:** | | | | Cash and Cash Equivalents | 1,662.2 | 1,529.3 | | Short-term Investments | 121.0 | 36.4 | | Inventory | 902.2 | 1,071.3 | | Total Current Assets | 3,359.8 | 3,324.1 | | Property and Equipment, Net | 850.4 | 955.5 | | Operating Lease Right-of-Use Assets | 1,014.6 | 1,134.0 | | Goodwill | 888.1 | 898.9 | | Total Assets | 6,602.6 | 6,789.5 | | **Liabilities and Equity:** | | | | Total Current Liabilities | 1,467.2 | 1,493.5 | | Long-term Debt | 1,140.5 | 1,138.5 | | Long-term Operating Lease Liabilities | 1,014.0 | 1,141.1 | | Total Liabilities | 4,152.3 | 4,359.0 | | Shareholders' Equity | 2,450.3 | 2,430.5 | | Total Liabilities and Equity | 6,602.6 | 6,789.5 | | Net Cash and Short-term Investments | 642.7 | 427.2 | [Consolidated Statements of Operations](index=11&type=section&id=Consolidated%20Statements%20of%20Operations) In Q4 FY2024, net revenue was $1.5679 billion, net income was $90.7 million, and diluted EPS was $1.38; for the full year, net revenue was $6.6314 billion, net income was $646.3 million, and diluted EPS was $9.71 Consolidated Statements of Operations (million USD, except per share data) | Item | Q4 FY2024 | Q4 FY2023 | Full Year FY2024 | Full Year FY2023 | | :--- | :--- | :--- | :--- | :--- | | Net Revenue | 1,567.9 | 1,540.8 | 6,631.4 | 6,443.6 | | Cost of Goods Sold | (524.2) | (590.2) | (2,199.6) | (2,277.8) | | Gross Profit | 1,043.7 | 950.6 | 4,431.8 | 4,165.8 | | Selling, General and Administrative Expenses | (906.6) | (878.2) | (3,600.5) | (3,408.9) | | Operating Income | 107.8 | 40.2 | 756.4 | 704.2 | | Net Income | 90.7 | 32.3 | 646.3 | 522.7 | | Diluted EPS | 1.38 | 0.48 | 9.71 | 7.58 | | Dividends Per Share | 0.75 | 0.75 | 3.00 | 3.00 | [Consolidated Statements of Cash Flows](index=12&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) For the full FY2024, the company generated $1.0697 billion in net cash from operating activities, used $256.8 million in investing activities, and used $665.6 million in financing activities Consolidated Statements of Cash Flows (million USD) | Item | Full Year FY2024 | Full Year FY2023 | | :--- | :--- | :--- | | Net Cash Provided by Operating Activities | 1,069.7 | 411.0 | | Net Cash Used in Investing Activities | (256.8) | 471.5 | | Net Cash Used in Financing Activities | (665.6) | (1,208.8) | | Cash and Cash Equivalents, End of Period | 1,670.6 | 1,536.9 | - Net cash provided by operating activities significantly increased, primarily due to higher net income and reduced inventory[45](index=45&type=chunk) - Net cash used in investing activities shifted from a net inflow to a net outflow, mainly due to increased purchases of investments and decreased sales/maturities of investments[45](index=45&type=chunk) [Segment Information](index=13&type=section&id=Segment%20Information) In Q4 FY2024, North America, Europe, and Asia all reported growth in net revenue and operating income, with Asia and Europe showing strong full-year performance Segment Net Revenue (million USD) | Region | Q4 FY2024 | Q4 FY2023 | Full Year FY2024 | Full Year FY2023 | | :--- | :--- | :--- | :--- | :--- | | North America | 667.7 | 655.6 | 2,950.5 | 3,020.5 | | Europe | 469.2 | 460.8 | 1,968.0 | 1,839.2 | | Asia | 394.3 | 390.0 | 1,566.6 | 1,426.7 | Segment Operating Income (million USD) | Region | Q4 FY2024 | Q4 FY2023 | Full Year FY2024 | Full Year FY2023 | | :--- | :--- | :--- | :--- | :--- | | North America | 113.5 | 68.4 | 553.6 | 543.2 | | Europe | 111.9 | 89.1 | 464.9 | 406.5 | | Asia | 66.0 | 55.4 | 335.9 | 289.6 | [Constant Currency Financial Measures](index=14&type=section&id=Constant%20Currency%20Financial%20Measures) The company provides comparable store sales and segment net revenue data at constant currency to isolate the impact of foreign exchange fluctuations on performance Constant Currency Comparable Store Sales Change (%) | Region | Q4 FY2024 | Full Year FY2024 | | :--- | :--- | :--- | | North America (Total) | 3% | 2% | | Europe (Total) | 12% | 8% | | Asia (Total) | 6% | 10% | | Ralph Lauren Corporation (Total) | 6% | 6% | Constant Currency Segment Net Revenue Change (%) | Region | Q4 FY2024 | Full Year FY2024 | | :--- | :--- | :--- | | North America | 1.8% | (2.2%) | | Europe | 0.5% | 3.2% | | Asia | 7.3% | 13.7% | | Total Net Revenue | 2.9% | 2.7% | [Net Revenues by Sales Channel](index=15&type=section&id=Net%20Revenues%20by%20Sales%20Channel) Retail was the primary revenue source for the company in Q4 and full FY2024, with wholesale and licensing also contributing Net Revenues by Sales Channel (million USD) | Sales Channel | Q4 FY2024 | Q4 FY2023 | Full Year FY2024 | Full Year FY2023 | | :--- | :--- | :--- | :--- | :--- | | Retail | 951.1 | 898.6 | 4,351.0 | 4,053.1 | | Wholesale | 580.1 | 607.8 | 2,134.1 | 2,233.3 | | Licensing | 36.7 | 34.4 | 146.3 | 157.2 | | Total Net Revenue | 1,567.9 | 1,540.8 | 6,631.4 | 6,443.6 | [Global Retail Store Network](index=16&type=section&id=Global%20Retail%20Store%20Network) As of March 30, 2024, the company operated 564 directly operated stores and 699 franchised stores globally, alongside 195 licensed stores Global Retail Store Network (as of March 30, 2024) | Store Type | March 30, 2024 | April 1, 2023 | | :--- | :--- | :--- | | Ralph Lauren Stores | 232 | 209 | | Outlet Stores | 332 | 344 | | **Total Directly Operated Stores** | **564** | **553** | | Franchised Stores | 699 | 722 | | Licensed Stores | 195 | 182 | - The number of Ralph Lauren stores in Asia significantly increased from **118 to 138**[56](index=56&type=chunk) [Non-U.S. GAAP Financial Measures Reconciliation](index=17&type=section&id=Non-U.S.%20GAAP%20Financial%20Measures%20Reconciliation) This section provides reconciliations of non-U.S. GAAP financial measures to the most directly comparable U.S. GAAP measures for various financial metrics [Reconciliation Tables](index=17&type=section&id=Reconciliation%20Tables) The company provides reconciliation tables for non-U.S. GAAP financial measures to U.S. GAAP for Q4 and full FY2024, covering net revenue, gross profit, operating income, net income, and EPS Q4 FY2024 Non-GAAP Reconciliation (million USD, except per share data) | Item | Reported | Adjustments | Adjusted (Reported) | Adjusted (Constant Currency) | | :--- | :--- | :--- | :--- | :--- | | Net Revenue | 1,567.9 | — | 1,567.9 | 1,585.9 | | Gross Profit | 1,043.7 | — | 1,043.7 | 1,060.8 | | Operating Income | 107.8 | 29.2 | 137.0 | 142.4 | | Net Income | 90.7 | 21.1 | 111.8 | - | | Diluted EPS | 1.38 | 0.33 | 1.71 | - | Full Year FY2024 Non-GAAP Reconciliation (million USD, except per share data) | Item | Reported | Adjustments | Adjusted (Reported) | Adjusted (Constant Currency) | | :--- | :--- | :--- | :--- | :--- | | Net Revenue | 6,631.4 | — | 6,631.4 | 6,619.0 | | Gross Profit | 4,431.8 | (4.5) | 4,427.3 | 4,432.2 | | Operating Income | 756.4 | 69.9 | 826.3 | 819.8 | | Net Income | 646.3 | 39.5 | 685.8 | - | | Diluted EPS | 9.71 | 0.60 | 10.31 | - | - Adjustments primarily include restructuring-related charges, charitable contributions, rent and occupancy costs related to exited real estate, Next Great Chapter transformation plan charges, and bad debt reserve adjustments related to Russia[65](index=65&type=chunk)[66](index=66&type=chunk) [Explanation of Non-U.S. GAAP Measures](index=22&type=section&id=Explanation%20of%20Non-U.S.%20GAAP%20Measures) The company uses constant currency and adjusted non-U.S. GAAP financial measures to assess operating performance, excluding foreign exchange fluctuations and non-recurring items for better period-over-period comparison - Constant currency measures translate current and prior-year reported amounts at a single foreign exchange rate to assess business performance excluding the impact of foreign currency fluctuations[67](index=67&type=chunk) - Non-U.S. GAAP measures exclude non-comparable period items, aiding investors in comparing operating performance[68](index=68&type=chunk) - The company cannot provide a complete reconciliation of its full year and Q1 FY2025 non-U.S. GAAP financial measures to U.S. GAAP due to the uncertain timing and amount of future restructuring-related and other charges[70](index=70&type=chunk)

26 December 2023, North Rhine-Westphalia, Cologne: Logo, lettering of the textile company Polo Ralph ... [+] Lauren on a store. Photo: Horst Galuschka/dpa (Photo by Horst Galuschka/picture alliance via Getty Images) dpa/picture alliance via Getty Images Note: Ralph Lauren's FY'24 ended March 30, 2024 Ralph Lauren (NYSE: RL), a company engaged in the design, marketing, and distribution of premium lifestyle products, including apparel, accessories, fragrances, and home furnishings, is scheduled to report its ...

Analysts on Wall Street project that Ralph Lauren (RL) will announce quarterly earnings of $1.65 per share in its forthcoming report, representing an increase of 83.3% year over year. Revenues are projected to reach $1.55 billion, increasing 0.8% from the same quarter last year. While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper ...

Ralph Lauren Corporation (RL) is set to report fourth-quarter fiscal 2024 results on May 23, before market open. The Zacks Consensus Estimate for revenues is pegged at $1.55 billion, which indicates an increase of 0.8% from the year-ago quarter's reported figure. The Zacks Consensus Estimate for earnings is pegged at $1.65 per share, which suggests growth of 83.3% from the year-earlier levels. The consensus mark for earnings has moved up 1.2% in past seven days. In the last reported quarter, the company's b ...

Wall Street expects a year-over-year increase in earnings on higher revenues when Ralph Lauren (RL) reports results for the quarter ended March 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on May 23. On th ...

Ralph Lauren Corporation (RL) is poised well for growth, thanks to its digital endeavors and other robust strategies. The company has been making significant progress in expanding its digital and omnichannel capabilities through investments in mobile, omnichannel and fulfillment. Ralph Lauren’s “Next Great Chapter” plan appears encouraging. Buoyed by such strengths, shares of this apparel and accessories designer have surged 52.4% against the industry’s 6.5% decline in a year.Let’s delve deeper.What’s More ...